Dynamic Technology Lab Private Ltd Takes $688,000 Position in MDU Resources Group Inc (MDU)
Dynamic Technology Lab Private Ltd acquired a new position in shares of MDU Resources Group Inc (NYSE:MDU) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,004 shares of the utilities provider’s stock, valued at approximately $688,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. acquired a new position in shares of MDU Resources Group during the 2nd quarter worth about $105,000. Clarus Wealth Advisors acquired a new position in shares of MDU Resources Group during the 2nd quarter worth about $108,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of MDU Resources Group during the 2nd quarter worth about $224,000. Itau Unibanco Holding S.A. bought a new stake in shares of MDU Resources Group during the 2nd quarter worth about $226,000. Finally, TLP Group LLC boosted its holdings in shares of MDU Resources Group by 268,566.7% during the 1st quarter. TLP Group LLC now owns 8,060 shares of the utilities provider’s stock worth $227,000 after buying an additional 8,057 shares during the period. Institutional investors own 63.98% of the company’s stock.
MDU has been the subject of several research analyst reports. KeyCorp lifted their target price on shares of MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a report on Thursday, July 19th. Citigroup lifted their target price on shares of MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $29.25.
MDU Resources Group (NYSE:MDU) last announced its earnings results on Tuesday, July 31st. The utilities provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.06). The company had revenue of $1.06 billion for the quarter. MDU Resources Group had a return on equity of 10.40% and a net margin of 6.45%. research analysts forecast that MDU Resources Group Inc will post 1.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Thursday, September 13th will be issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Wednesday, September 12th. MDU Resources Group’s payout ratio is 63.20%.
About MDU Resources Group
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
Featured Article: Stop Order Uses For Individual Investors
Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDU Resources Group Inc (NYSE:MDU).
Receive News & Ratings for MDU Resources Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group and related companies with MarketBeat.com's FREE daily email newsletter.